Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by Principal Financial Group Inc.


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Principal Financial Group Inc. reduced its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 373,625 shares of the transportation company’s stock after selling 11,313 shares during the quarter. Principal Financial Group Inc. owned 0.22% of Knight-Swift Transportation worth $15,625,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ increased its position in shares of Knight-Swift Transportation by 323.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 98,296 shares of the transportation company’s stock valued at $4,111,000 after purchasing an additional 75,061 shares during the period. Norris Perne & French LLP MI increased its position in shares of Knight-Swift Transportation by 6.3% during the 4th quarter. Norris Perne & French LLP MI now owns 312,951 shares of the transportation company’s stock valued at $13,088,000 after purchasing an additional 18,669 shares during the period. Aperio Group LLC increased its position in shares of Knight-Swift Transportation by 10.5% during the 4th quarter. Aperio Group LLC now owns 110,115 shares of the transportation company’s stock valued at $4,605,000 after purchasing an additional 10,488 shares during the period. Alliancebernstein L.P. increased its position in shares of Knight-Swift Transportation by 31.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,783,710 shares of the transportation company’s stock valued at $325,515,000 after purchasing an additional 1,842,716 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Knight-Swift Transportation by 90.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 404,960 shares of the transportation company’s stock valued at $16,936,000 after purchasing an additional 192,737 shares during the period. Institutional investors own 86.80% of the company’s stock.

In related news, Chairman Kevin P. Knight sold 49,600 shares of the business’s stock in a transaction dated Friday, April 9th. The stock was sold at an average price of $50.06, for a total transaction of $2,482,976.00. Following the transaction, the chairman now directly owns 5,509 shares in the company, valued at $275,780.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Gary J. Knight sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 30th. The shares were sold at an average price of $49.00, for a total value of $2,450,000.00. Following the transaction, the insider now owns 10,285 shares in the company, valued at $503,965. The disclosure for this sale can be found here. Insiders sold 199,600 shares of company stock worth $9,882,976 over the last quarter. 27.50% of the stock is currently owned by corporate insiders.

Shares of NYSE:KNX opened at $50.03 on Tuesday. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $33.72 and a fifty-two week high of $50.52. The business has a 50-day moving average of $46.21 and a two-hundred day moving average of $42.65. The stock has a market capitalization of $8.29 billion, a P/E ratio of 25.66, a P/E/G ratio of 0.87 and a beta of 1.19. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.79 and a quick ratio of 0.79.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, January 27th. The transportation company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. Knight-Swift Transportation had a return on equity of 6.97% and a net margin of 7.30%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.65 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Friday, March 5th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.64%. Knight-Swift Transportation’s payout ratio is presently 14.75%.

Several brokerages have recently issued reports on KNX. Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 7th. Knight Equity upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $52.00 in a report on Thursday, March 4th. Vertical Research initiated coverage on Knight-Swift Transportation in a report on Friday, March 26th. They issued a “buy” rating and a $62.00 target price on the stock. Cowen lifted their target price on Knight-Swift Transportation from $47.00 to $52.00 and gave the stock a “market perform” rating in a report on Thursday, January 28th. Finally, KCG upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $52.00 in a report on Thursday, March 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $50.70.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through three segments: Trucking, Logistics, and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.

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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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